Crowd funding platform, CoAssets, has its sights set on becoming the first listed crowdfunding and P2P lending platform on the ASX.
The company is gearing up for an IPO after meeting the minimum requirements in raising $5 million, which will be used on marketing and sales, IP costs and IT and product development.
The company is already listed on the National Stock Exchange of Australia, but its CEO, Getty Goh, perceives the ASX as a ‘natural progression’ stemming from the growth in its services.
In the past year, CoAssets has expanded its crowdfunding platform into new markets such as China, Malaysia and Australia, with its user base growing from 21,000 to 50,000 in the past six months.
CoAsset’s prospectus has a maximum acceptance of $10 million and the company is currently on a roadshow to investors in Australia, Hong Kong and Singapore.